Penrose at Sims Drive is launching soon

Penrose is a upcoming project that is located right at the heart of Geylang and Sims Drive by Hong Leong Holdings' Intrepid Investments and City Developments Ltd. The developers submit a top bid for the 174,648 sq ft of prime land that sits at the city fringe in the heart of Aljunied and Geylang. The top bid for the land was measured at $732 psf per plot ratio and it is estimated that about 570 units can be constructed on the plot of land. The project enjoys close proximity to major transportation routes including Aljunied MRT Station as well as Kallang-Paya Lebar Expressway and the Pan Island Expressway for owners who are taking their own cars. It is a mere no more than 15 mins drive to the Central Business District (CBD). The condo combines the convenience of being located near to the city and the prices are not that high compared to core city centre developments.

The 99 years leasehold project on the 174,648 sqft land size will be developed into a prime city fringe condo that consist of 570 units with several 17 or 18 storeys that will comprises of 560 Units of prime city fringe residential units that is located near to Aljunied MRT Station. Given that the land was secured at $732 psf ppr, it is estimated that the selling price for Penrose will be around $1,400 psf which is considerably low for a city fringe development. Penrose condo falls under the new ruling by URA that dictates that the average size of the condo to be around 85 sqm which means that the units will be bigger and more comfortable for own stay. With more plans now to transform Paya Lebar into a residential and transport hub, Penrose location is an ideal opportunity to own a city fringe condo at mass market prices.

Penrose sites on a prime piece of land that located near to many established schools with good records. Penrose location is near to schools such as Geylang Methodist School, Canossa Catholic Primary School, Cedar Primary School and Kong Hwa Primary School. These schools are long established and have a good records with many of the previous students as well. Also, with the selling price of Parc Esta as well as other nearby projects that is already selling at $1,600psf, the selling price if at $1,4xx psf located nearer to the city compared to other developments suggests that the selling price for Penrose is actually cheap.